XML 28 R10.htm IDEA: XBRL DOCUMENT v3.20.1
Note 3 - Revenue
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Revenue [Text Block]
3.
REVENUE
 
The Partnership recognizes revenue from contracts with customers as well as lease revenue.  The following table includes revenue associated with contractual commitments in place related to future performance obligations as of the end of the reporting period, which are expected to be recognized in revenue in the specified periods (in thousands):
 
   
Revenue from Contracts with Customers
(1)
    
Revenue from Leases
  
Remainder of 2020
   $
23,929
     $
42,106
 
2021    
30,211
      
55,019
 
2022    
23,198
      
44,262
 
2023    
17,605
      
35,289
 
2024    
11,250
      
28,675
 
Thereafter    
9,930
      
28,110
 
Total revenue related to future performance obligations
   $
116,123
     $
233,461
 
___________________
(
1
)
Excluded from the table is revenue that is either constrained or related to performance obligations that are wholly unsatisfied as of
March 31, 2020
.
 
Disaggregation of Revenue
 
Disaggregation of revenue from contracts with customers for each operating segment by revenue type is presented as follows (in thousands):
 
   
Asphalt Terminalling Services
    
Crude Oil Terminalling Services
    
Crude Oil Pipeline Services
    
Crude Oil Trucking Services
    
Total
  
   
Three Months Ended March 31, 2019
  
Revenue from contracts with customers                                        
Third-party revenue:
                                        
Fixed storage, throughput and other revenue
   $
4,983
     $
3,069
     $
-
     $
-
     $
8,052
  
Variable throughput revenue
    
3
      
504
      
-
      
-
      
507
  
Variable reimbursement revenue
    
1,996
      
-
      
-
      
-
      
1,996
  
Crude oil transportation revenue
    
-
      
-
      
2,498
      
2,833
      
5,331
  
Crude oil product sales revenue
    
-
      
-
      
58,924
      
-
      
58,924
  
Related-party revenue:
                                        
Fixed storage, throughput and other revenue
    
2,848
      
-
      
83
      
-
      
2,931
  
Variable reimbursement revenue
    
1,270
      
-
      
18
      
-
      
1,288
  
Total revenue from contracts with customers
   $
11,100
     $
3,573
     $
61,523
     $
2,833
     $
79,029
  
Lease revenue                                        
Third-party revenue:                                        
Fixed lease revenue   $
9,229
     $
-
     $
-
     $
-
     $
9,229
  
Variable reimbursement revenue    
534
      
-
      
-
      
-
      
534
  
Related-party revenue:                                        
Fixed lease revenue    
4,779
      
-
      
-
      
-
      
4,779
  
Variable reimbursement revenue    
161
      
-
      
-
      
-
      
161
  
Total lease revenue   $
14,703
     $
-
     $
-
     $
-
     $
14,703
  
Total revenue   $
25,803
     $
3,573
     $
61,523
     $
2,833
     $
93,732
  
 
   
Three Months Ended March 31, 2020
  
Revenue from contracts with customers                                        
Third-party revenue:
                                        
Fixed storage, throughput and other revenue
   $
5,246
     $
2,859
     $
-
     $
-
     $
8,105
  
Variable throughput revenue    
1
      
471
      
-
      
-
      
472
  
Variable reimbursement revenue    
1,607
      
-
      
-
      
-
      
1,607
  
Crude oil transportation revenue    
-
      
-
      
502
      
2,543
      
3,045
  
Crude oil product sales revenue    
-
      
-
      
47,052
      
-
      
47,052
  
Related-party revenue:
                                        
Fixed storage, throughput and other revenue    
3,106
      
-
      
-
      
-
      
3,106
  
Variable reimbursement revenue    
971
      
-
      
-
      
-
      
971
  
Total revenue from contracts with customers
   $
10,931
     $
3,330
     $
47,554
     $
2,543
     $
64,358
  
Lease revenue                                        
Third-party revenue:                                        
Fixed lease revenue   $
9,227
     $
-
     $
-
     $
-
     $
9,227
  
Variable reimbursement revenue    
604
      
-
      
-
      
-
      
604
  
Related-party revenue:                                        
Fixed lease revenue    
4,800
      
-
      
-
      
-
      
4,800
  
Variable reimbursement revenue    
121
      
-
      
-
      
-
      
121
  
Total lease revenue   $
14,752
     $
-
     $
-
     $
-
     $
14,752
  
Total revenue   $
25,683
     $
3,330
     $
47,554
     $
2,543
     $
79,110
  
 
Contract Balances
 
Billed accounts receivable from contracts with customers were
$23.2
 million and
$16.8
 million at
December 31, 2019
, and
March 31, 2020
, respectively.
 
The Partnership records unearned revenues when cash payments are received in advance of performance. Unearned revenue related to contracts with customers was
$3.0
 million and
$3.4
 million at
December 31, 2019
, and
March 31, 2020
, respectively. For the
three
months ended
March 31, 2020
, the Partnership recognized 
$1.8
 million of revenues that were previously included in the unearned revenue balance.
 
Practical Expedients and Exemptions
 
The Partnership does
not
disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of
one
year or less and (ii) contracts for which revenue is recognized at the amount to which the Partnership has the right to invoice for services performed. The Partnership is using the right-to-invoice practical expedient on all contracts with customers in its crude oil terminalling services, crude oil pipeline services and crude oil trucking services segments.